The LED and OLED lighting products and displays market in the Middle East is rising at a significant pace. The increasing demand for LED products in this region is the key factor driving the growth of this market. The implementation of several government regulations, mandating the deployment of LED and OLED lighting products at public places and construction sites, has also influenced the market positively in the recent times.
Apart from this, the emerging trend of LED hoardings and the increasing shift in consumer preferences from OLED displays to AMOLED displays are also propelling this market significantly across the Middle East.
KSA to Remain Dominant in GCC LED and OLED Lighting Products Market
The Middle East LED and OLED lighting products and displays market is spread across the nations in the Gulf Cooperation Council (GCC) and Levant countries. In 2014, the Kingdom of Saudi Arabia (KSA) led the LED and OLED lighting products market in GCC with a share of more than 32%. The economy is expected to remain dominant in the coming years and is likely to be followed closely by the UAE and Qatar.
Among Levant countries, Turkey is projected to lead the LED and OLED lighting and display market in the coming years and is likely to be followed by Israel. The changing lifestyle and preferences of consumers in these countries are expected to drive the markets’ growth.
Solar Lighting Products and Mobile Displays Lead Middle East LED and OLED Lighting Products and Displays Market
Solar lighting products and conventional lighting products are the key products available in the Middle East LED and OLED lighting products market. In 2014, the solar lighting products segment held a share of 6.5% in the overall market. Experts project the segment to expand at a CAGR of 17.80% during the period from 2015 to 2025.
The Middle East LED and OLED display market broadly includes TV displays, mobile displays, and outdoor LED displays. The mobile displays segment led this market in 2014, occupying a share of 15.4%. However, this segment is expected to lose ground to the TV displays segment in the coming years, which is estimated to account for a share of 75.7% by the end of 2025.
The mobile displays segment is likely to rise at a CAGR of 7.8% between 2015 and 2025, capturing a share of 20.7% in the Middle East LED and OLED display market by the end of this period.
Demand from Commercial Segment to Decline in Future
The end users for LED and OLED lighting products and displays in the Middle East can be classified into the residential segment and the commercial segment. In 2014, the commercial segment emerged as the biggest consumer of LED and OLED lighting products and displays with a share of 67.1% in the overall consumption. However, the demand from this segment is likely to decrease in the coming years, resulting in a significant decline in its market share.
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Cree Inc., GE Lighting LLC, Nexus Industries Ltd., Zumtobel Group AG, Barco N.V., LG Display Co. Ltd., Eaton Corp., Sharp Corp., Daktronics Inc., Toshiba Lighting & Technology Corp., OSRAM Licht AG, and Samsung Electronics Co. Ltd. are some of the leading manufacturers of LED and OLED lighting products and displays across the world.